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7 Ways To Come Up With A Great Business Idea

You are caring for your loved one and you are struggling for your efforts.

Caring has placed a heavy financial burden on your shoulders. As a carer, not only do you have to think about the average household costs, you also worry about costs associated with therapy, equipment, special clothing or special dietary requirements, and to top it all off, the future of your loved one after you have left the building!

So you decide you need to earn money. It is difficult for you to leave your home because of your caring commitments, you prefer to be your own boss and not have to worry about asking for time off. You decide to start your own business.

One of the most common things I hear clients say to me is “I want to start a business, but I have NO idea what business to start.”

I get a little excited when I hear that sentence. Why? Because that was me a couple of years ago. Back then I only knew, “No I was not going to give in to my struggles AKA struggle for life” and “yes I wanted to create a business that allowed me to work while I was caring.”

There I was caring, struggling and looking for an idea that I was passionate about and could be profitable. Passion is the one of the most important elements of having your own business. If you don’t feel passionate for whatever you decide to do, success will be difficult to find because having a business is about much more than just money.

It took me months of overthinking and undereating (just saying), to come up with an idea for my business, which, by the way, changed when I was half way through my project. The success I have had so far in my business, had nothing at all to do with months of careful research and planning. In fact, most of those months were wasted, overthinking big traditional business ideas that were way off track.

It is best to keep it simple, even go as far as writing the words down, “keep it simple” and place it where you will do you research as a reminder. Consumers want simple solutions to their problems and by keeping the solution simple, a business can reduce the time and costs associated with the product ultimately improving the bottom line.

You don’t have to spend months doing the same thing. Below you will find my10 ways to come up with a great business idea. This still may take some time, but at least that time, you will use productively.

So here they are.

Think outside the box

Get creative in your thinking by expanding beyond the finished product or service. There are pain points throughout the complete buying process and if you can find a way to solve a pain point you are passionate about, well that could make a profitable business.

What’s bugging you?

As you go about your day, jot down notes whenever you hear yourself say, “there must be a better way” or “it would be so much easier if.” Then get creative and find a way you can make it easier. Many people worry about starting a business, with an idea that has already gone to market. The fact is, if that was going to be a problem there would be no competitors, which is bad for consumers, and bad for business. I am not suggesting you go out and start a business to compete against major brands, just think about all the products and services that you use throughout your day. Think beyond the product, think of your pain points.

What’s Trending?

I don’t mean just on Twitter. I mean on Twitter, Facebook and other social media platforms. Find out what’s trending in the industry you are passionate about. Think beyond researching new ideas and look at trends of traditional business models and the possibility of adapting them to an online business.

Learn the art of listening.

We are more connected now than ever before thanks to the rise of mobile internet. Customers can be in your store and also be telling hundreds even thousands of people about your service via social media. Customers love telling people about their experiences. Learn to listen and you will start to see the opportunities. What are they complaining about? Can you solve it?

Get creative with surveys.

We are all customers and we are all connected which creates huge market research opportunities. Create a survey and post it on your social media sites, try to keep it short and sweet which will give you a better response rate. Surveys are going around all the time although you may not have noticed them, they feel and look different, and you probably know them as “One Word” or “25 Random facts about me.” You know the ones that your Facebook friends tag you in to have you complete with answers about yourself? Once you complete you then pass in on to more friends. Be smart when you create your survey and ask strategic questions to find what gets them annoyed, and think of a way to solve the problems.

What’s your hobby worth?

Do you have a hobby? Are you crafty or creative? Creativity is in all of us and if you have a hobby you love and are good at, what better way to start a business. Do your friends and family comment about your creativity? Would they pay for your creations? Ask people who have seen your work.

Are you a go-to person?

Everyone plays a role in their circles. What is your role or what do put go-to you for? Thinking of my own circle and myself, people come to me for help with business, computers, and questions around employment i.e. can you help me with my resume? This indicates people trust your judgment and expertise. Find one thing that you are a go-to person for, ask yourself if you are passionate about it and become an expert. People pay for knowledge.

So there are 7 ways to find a great business idea. Don’t forget that finding something you are good at or people will pay for is not enough. You need to ask yourself some questions about the idea you have come up with. What is the pain point? Can you solve the problem? If you are considering starting a business that will have competitors, the most important question is, why will your market pay for your services rather than your competitors? Once you have a solid recipe for success, get help with smart marketing strategies and enjoy success!

Good Luck!

Debra x

Have you got another way to find a great business idea? Tell me by commenting below and as always thanks for sharing to help other carers improve their lives.